Used as an intermediate in organic synthesis, particularly in the production of specialty chemicals and agrochemicals. It serves as a building block for fragrances and flavoring agents due to its aromatic character and structural complexity. Also employed in the development of antioxidants and stabilizers in industrial formulations, where its phenolic group provides reactivity useful in inhibiting oxidation processes. Its lipophilic nature makes it suitable for applications requiring solubility in non-polar matrices.